Interactive Intelligence Buys Latitude Software For $14 Million In Cash

Interactive Intelligence, a provider of unified IP business communications solutions, has acquired Global Software Services, doing business as Latitude Software, a privately-held provider of debt collection software and services.

Interactive Intelligence says it purchased 100 percent of Latitude’s stock for approximately $14 million in an all-cash transaction funded from cash-on-hand.

On a trailing twelve month basis ending Sept. 30, 2010, Latitude posted revenue of approximately $7.8 million, up 46 percent over its revenues during the prior twelve month period. Latitude has no outstanding debt, the buyer adds.

Interactive Intelligence will offer the Latitude Software suite as a standalone solution, which will include integration with its own Interaction Dialer application, as well as with third-party dialer products.

Latitude will operate as a wholly-owned subsidiary of Interactive Intelligence and will maintain its current headquarters in Jacksonville, Florida, which is currently staffed by 40 employees.